3 Feb 2014
USD/JPY cannot leave 102.00 for long
FXstreet.com (Moscow) - USD/JPY got some mild attention during the Asian session. The pair reached morning high at 102.40, and moved down to 102.12 at the moment.
USD/JPY may get some support from US session
Nikkei closed the session in red putting USD/JPY under mild pressure. The pair is still trading not far from the strong 102.00 support level, staying under mild pressure due to continued turmoil on Emerging Markets. Nevertheless, the current week may change the investors’ preferences to developed countries data. Now the eyes of traders turn to the US data as the recently released data showed the unemployment rate reached 6.7 per cent - within spitting distance from the FED’s target at 6.5%. If this week’s labor market leading indicators prove to be positive, it may return the popularity to the USD. Today’s ISM report is of interest due to employment component – the rise of the indicator may support the correction of the pair with initial target at 102.35 resistance level. The downside is limited by 101.76 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.35, with support below at 101.76, 101.35 and 100.75, with resistance above at 102.76, 103.36, and 103.77. Hourly Moving Averages are bearish, with the 200SMA at 103.10 and the daily 20EMA at 103.37. Hourly RSI is neutral at 46.
USD/JPY may get some support from US session
Nikkei closed the session in red putting USD/JPY under mild pressure. The pair is still trading not far from the strong 102.00 support level, staying under mild pressure due to continued turmoil on Emerging Markets. Nevertheless, the current week may change the investors’ preferences to developed countries data. Now the eyes of traders turn to the US data as the recently released data showed the unemployment rate reached 6.7 per cent - within spitting distance from the FED’s target at 6.5%. If this week’s labor market leading indicators prove to be positive, it may return the popularity to the USD. Today’s ISM report is of interest due to employment component – the rise of the indicator may support the correction of the pair with initial target at 102.35 resistance level. The downside is limited by 101.76 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 102.35, with support below at 101.76, 101.35 and 100.75, with resistance above at 102.76, 103.36, and 103.77. Hourly Moving Averages are bearish, with the 200SMA at 103.10 and the daily 20EMA at 103.37. Hourly RSI is neutral at 46.